Ratner recruited Jay-Z and a number of prominent Brooklynites with the idea of moving the franchise from the swamps of New Jersey to downtown Brooklyn. He plans to build a 19,000-seat arena in time for the 2006-2007 NBA season as part of a $2.5 billion development project, although the plan faces community opposition.

Jay-Z holds a minority interest in the team.

His participation in the ownership ranks, though, set the stage for another rapper to enter the sports field: Nelly. Last month, Nelly became an investor in the ownership group that runs the Charlotte Bobcats expansion NBA franchise, led by former BET owner Robert Johnson (see "Nelly Joins the NBA As Charlotte Bobcats Owner"). The 2004-2005 season will be the Bobcats' first.